Tax Preparation

Take Care of Taxes With Carrington Financials

Benjamin Franklin once famously said, "In this world, nothing can be said to be certain except death and taxes." While he had a point, we at Carrington Financials would add one more certainty to that list - our commitment to helping clients navigate the complex world of taxes. Tax season is rarely something people look forward to. Compiling all your financial documentation, figuring out deductions, and making sure you avoid mistakes can be an arduous process.
Both individuals and companies have tax filing requirements that seem to get more complicated each year. However, working with a professional tax preparer in Akron, OH makes the whole experience smoother. At Carrington Financials, taxes are our specialty.

How Can a Professional Tax Preparer Help With Taxes?

We all have limited time in the day, and it’s understandable not wanting to spend it on confusing paperwork. Why not delegate that time-consuming task to the experts at Carrington Financials? As professional tax preparers in Akron, OH, we specialize in taxes so you can focus on what matters most.

When you work with us, we get to know you on a personal level—not just as numbers on a sheet. Our team advises clients on legal ways to maximize deductions so they pay only what is required and avoid penalties down the road. We keep up with the latest tax codes and policies so you can feel confident your taxes are done properly.

Consider us your partners through the tax journey, not just paperwork processors.

What Are The Key Steps Involved in Tax Preparation?

To give you more insight into what we provide as tax professionals here in Akron, let me walk through the essential steps:

Gathering Information

The first step is collecting all the necessary documentation. That’s your W2s, 1099s, receipts for deductions, etc.

We’ll have you fill out an organizer with income amounts, charity donations, medical expenses, and other tax-related items. We must have accurate numbers for all your sources of income to determine the correct tax liability.

Preparing a Tax Strategy

Next comes the game plan. With all your information gathered, we can assess your tax situation and determine the best way to minimize taxes owed while maximizing returns. There are several tax brackets in Ohio depending on income level and filing status:

  • 0% on the first $26,050 of taxable income
  • 2.75% on taxable income between $26,051 and $100,000
  • 3.688% on taxable income between $100,001 and $115,300
  • 3.75% on taxable income above $115,300

Note that these brackets are subject to change, so staying in the loop is essential. This is where our expertise comes into play. We can identify deductions and credits that the average person may overlook, helping to minimize your tax liability.

Filing Taxes

Finally, we take care of accurately filing your taxes electronically or via paper forms. We double and triple-check the returns to avoid costly mistakes. After filing, we remain available to answer any questions from the IRS, help reconcile amounts owed, and ensure you receive any refunds due. We’re here before, during, and after tax season.

The Pros and Cons of Hiring a Tax Preparer

You might have heard that you can do your taxes yourself or that it’s spending money on a professional is not worth it. We aim for you to have all the information in hand to make an informed decision. So, here are the pros and cons of hiring tax preparers in Akron, OH:

Pros

  • Save Money: A tax preparer can help you identify deductions and credits you may have missed, potentially saving you money.
  • Save Time: We take this cumbersome task off your plate so you can spend more hours on things you enjoy.
  • Avoid Serious Mistakes: Simple errors can trigger audits or penalties. We know the intricate rules for filing accurately.
  • Year-Round Peace of Mind: Our support doesn’t end on April 15. We answer tax questions whenever you have them.

Cons

  • Upfront Costs: Our high-quality services do come at a price, although they usually pay for themselves.
  • Hard to Find: Not all preparers are created equal. Finding one you trust takes some research.
  • Vary in Quality: Cheaper preparers may lack the skills to maximize savings or avoid mistakes.

When Should I Start Tax Planning for the Upcoming Year?

In Ohio, the tax filing deadline is usually mid-April. You really don’t want to be late, as you could face penalties and interest. Starting early allows more time to gather necessary documents and plan strategies for the upcoming year. It also gives us more time to identify potential deductions or credits that may apply to your situation. These take time to research and understand. The last quarter of the year is generally a good time to start the process.

Finding the Best Tax Preparer

As mentioned earlier, tax preparers in Akron, OH, vary widely in skills and experience. When looking for someone to handle your finances, it pays to do some due diligence. Here are three key characteristics to seek out:

Qualified

At a minimum, you want to verify any tax preparer has valid credentials. All paid preparers must have a Preparer Tax Identification Number (PTIN), which they use to sign returns. It’s also good to look for additional qualifications like

  • Certified public accountant (CPA) licensure
  • IRS Annual Filing Season Program (AFSP) record of completion
  • Membership in professional groups like the National Association of Tax Professionals (NATP).

Experienced

Along with overall qualifications, your preparer must have real-world experience handling taxes for people in your situation. For example, a small business owner or landlord would want someone well-versed in Schedule C deductions or rental property rules.

Trustworthy

Check online reviews and ratings to confirm they have a solid reputation for customer service and accuracy. A long history in the community also helps establish credibility. 

The tax professionals at Carrington Financials check all those boxes and more. As hometown experts serving Akron, you can trust our team to handle your taxes correctly.

How Carrington Financials Can Help ?

Taxes don’t need to be taxing with Carrington Financials by your side. Our dual mission is protecting the community with both insurance and tax preparation services tailored to your needs. We take pride in helping Ohio residents make sense of financial complexity, working toward greater literacy and empowerment.

 We take pride in helping Ohio residents make sense of financial complexity, working toward greater literacy and empowerment. Plus, with licenses and established books of business in Georgia, Texas, and Arizona, we’re equipped to serve clients with diverse financial situations and multi-state tax obligations.

Make tax planning a year-round endeavor, not just a spring scramble, as we explore ways to reduce your tax liability before deadlines.

Contact Carrington Financials today to schedule your free initial consultation. Meet with our tax preparation experts to discuss your situation, ask questions, and start strategizing for next year’s tax savings. 

We can’t eliminate taxes, but we can eliminate the headache that often surrounds them.